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INCOME TAX ASSESSMENT ACT 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-1 - CAPITAL GAINS AND LOSSES: GENERAL TOPICS  

Division 108 - CGT assets  

Subdivision 108-C - Personal use assets  

SECTION 108-25  Sets of personal use assets  

 ITAA 36

108-25(1)  

This section sets out what happens if:


(a) you own *personal use assets that are a set; and


(b) they would ordinarily be *disposed of as a set; and


(c) you dispose of them in one or more transactions for the purpose of trying to obtain the exemption in section 118-10.

108-25(2)  

The set of *personal use assets is taken to be a single *personal use asset and each of your *disposals is a disposal of part of that asset.


 



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